Computational Fluid Dynamics (CFD) Market Growth Report | 2021 to 2031
The Computational Fluid Dynamics (CFD) Market is expected to register a CAGR of 8.4% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by Deployment Model (Cloud-Based, On-Premise); End User (Automotive, Aerospace and Defense, Electrical and Electronics, Material and Chemical Processing, Others). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Computational Fluid Dynamics (CFD) Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Computational Fluid Dynamics (CFD) Market Segmentation
Deployment Model- Cloud-Based
- On-Premise
- Automotive
- Aerospace and Defense
- Electrical and Electronics
- Material and Chemical Processing
- Others
Strategic Insights
Computational Fluid Dynamics (CFD) Market Growth Drivers- Rising Demand for Product Innovation and Optimization: From textiles to aerospace, companies have been using CFD in optimizing the design and efficiency of their products. Its application in aerospace is especially for improving aerodynamics, fuel efficiency, and performance. In the automotive industries, it helps in designing, improving vehicle cool systems, and reducing air resistance. CFD enables testing the possibilities of designs virtually, facilitating faster innovation and reducing reliance on cost-prohibitive physical prototypes and testing.
- Advancements in Simulation and Modeling Technology: Advances in computing power and cloud-based solutions make it easier to run complex CFD simulations. Engineers can analyze larger, more intricate systems in less time due to faster and more efficient computational capabilities, which is making CFD more accessible to businesses across different sectors, which in turn driving the growth of the market.
- Cloud-Based CFD Solutions: One of the major trends in the CFD market is the increasing shift toward cloud-based simulation solutions. Cloud computing enables companies to access high-performance CFD software and computational resources on-demand, reducing the need for costly in-house infrastructure. Cloud-based solutions also offer scalability, collaboration, and easier integration with other enterprise systems, making it more accessible for companies of all sizes to leverage CFD simulations for design and optimization processes.
- Real-Time and In-Process Simulation: The trend of real-time and in-process CFD simulation is increasing, and the focus areas include automotive and aerospace. Engineers and designers have started to depend more on real-time simulations for the assessment of designs and adjustment before final processing, rather than waiting for the results from post-processing. This is enabling quicker decisions, lessening design iteration cycles, and enhancing the timeline for product development, thereby raising the need for faster and more efficient tools for CFD.
- Integration of Artificial Intelligence and Machine Learning: The integration of AI and Machine Learning (ML) with CFD is one of the significant opportunities in the market. These technologies enhance CFD simulations by improving data analysis, pattern recognition, and optimization algorithms. AI and ML-driven models can automate complex problem-solving processes, predict flow behaviors more accurately, and reduce computational time, making CFD more efficient and accessible. This integration is opening up new possibilities for industries to solve fluid dynamics problems more effectively and cost-efficiently.
- Emerging 3D Printing and Additive Manufacturing: The increasing adoption of 3D printing/additive manufacturing in aerospace, automobiles, and healthcare is a wide opportunity for CFD. Using 3D printing on these structures creates complex geometries. CFD models are necessary to predict various fluid flow behaviors, material properties, and heat transfers within the intricate structures. This would result in better performances, reduced material waste, and lower production costs, thereby driving the demand for CFD solutions in additive manufacturing.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Computational Fluid Dynamics (CFD) Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Computational Fluid Dynamics (CFD) Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
The integration of techniques for Artificial Intelligence (AI) and Machine Learning (ML) into CFD is anticipated to play a significant role in the global Computational Fluid Dynamics (CFD) market in the coming years.
The major factors driving the Computational Fluid Dynamics (CFD) market are Rising Demand for Product Innovation and Advancements in Simulation and Modeling Technology.
The Computational Fluid Dynamics (CFD) Market is estimated to witness a CAGR of 8.4% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Computational Fluid Dynamics (CFD) Market - By Deployment Model
1.3.2 Computational Fluid Dynamics (CFD) Market - By End User
1.3.3 Computational Fluid Dynamics (CFD) Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. COMPUTATIONAL FLUID DYNAMICS (CFD) MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. COMPUTATIONAL FLUID DYNAMICS (CFD) MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. COMPUTATIONAL FLUID DYNAMICS (CFD) MARKET - GLOBAL MARKET ANALYSIS
6.1. COMPUTATIONAL FLUID DYNAMICS (CFD) - GLOBAL MARKET OVERVIEW
6.2. COMPUTATIONAL FLUID DYNAMICS (CFD) - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. COMPUTATIONAL FLUID DYNAMICS (CFD) MARKET - REVENUE AND FORECASTS TO 2028 - DEPLOYMENT MODEL
7.1. OVERVIEW
7.2. DEPLOYMENT MODEL MARKET FORECASTS AND ANALYSIS
7.3. CLOUD-BASED
7.3.1. Overview
7.3.2. Cloud-Based Market Forecast and Analysis
7.4. ON-PREMISE
7.4.1. Overview
7.4.2. On-Premise Market Forecast and Analysis
8. COMPUTATIONAL FLUID DYNAMICS (CFD) MARKET - REVENUE AND FORECASTS TO 2028 - END USER
8.1. OVERVIEW
8.2. END USER MARKET FORECASTS AND ANALYSIS
8.3. AUTOMOTIVE
8.3.1. Overview
8.3.2. Automotive Market Forecast and Analysis
8.4. AEROSPACE AND DEFENSE
8.4.1. Overview
8.4.2. Aerospace and Defense Market Forecast and Analysis
8.5. ELECTRICAL AND ELECTRONICS
8.5.1. Overview
8.5.2. Electrical and Electronics Market Forecast and Analysis
8.6. MATERIAL AND CHEMICAL PROCESSING
8.6.1. Overview
8.6.2. Material and Chemical Processing Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis
9. COMPUTATIONAL FLUID DYNAMICS (CFD) MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Computational Fluid Dynamics (CFD) Market Overview
9.1.2 North America Computational Fluid Dynamics (CFD) Market Forecasts and Analysis
9.1.3 North America Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By Deployment Model
9.1.4 North America Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By End User
9.1.5 North America Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By Countries
9.1.5.1 United States Computational Fluid Dynamics (CFD) Market
9.1.5.1.1 United States Computational Fluid Dynamics (CFD) Market by Deployment Model
9.1.5.1.2 United States Computational Fluid Dynamics (CFD) Market by End User
9.1.5.2 Canada Computational Fluid Dynamics (CFD) Market
9.1.5.2.1 Canada Computational Fluid Dynamics (CFD) Market by Deployment Model
9.1.5.2.2 Canada Computational Fluid Dynamics (CFD) Market by End User
9.1.5.3 Mexico Computational Fluid Dynamics (CFD) Market
9.1.5.3.1 Mexico Computational Fluid Dynamics (CFD) Market by Deployment Model
9.1.5.3.2 Mexico Computational Fluid Dynamics (CFD) Market by End User
9.2. EUROPE
9.2.1 Europe Computational Fluid Dynamics (CFD) Market Overview
9.2.2 Europe Computational Fluid Dynamics (CFD) Market Forecasts and Analysis
9.2.3 Europe Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By Deployment Model
9.2.4 Europe Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By End User
9.2.5 Europe Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Computational Fluid Dynamics (CFD) Market
9.2.5.1.1 Germany Computational Fluid Dynamics (CFD) Market by Deployment Model
9.2.5.1.2 Germany Computational Fluid Dynamics (CFD) Market by End User
9.2.5.2 France Computational Fluid Dynamics (CFD) Market
9.2.5.2.1 France Computational Fluid Dynamics (CFD) Market by Deployment Model
9.2.5.2.2 France Computational Fluid Dynamics (CFD) Market by End User
9.2.5.3 Italy Computational Fluid Dynamics (CFD) Market
9.2.5.3.1 Italy Computational Fluid Dynamics (CFD) Market by Deployment Model
9.2.5.3.2 Italy Computational Fluid Dynamics (CFD) Market by End User
9.2.5.4 United Kingdom Computational Fluid Dynamics (CFD) Market
9.2.5.4.1 United Kingdom Computational Fluid Dynamics (CFD) Market by Deployment Model
9.2.5.4.2 United Kingdom Computational Fluid Dynamics (CFD) Market by End User
9.2.5.5 Russia Computational Fluid Dynamics (CFD) Market
9.2.5.5.1 Russia Computational Fluid Dynamics (CFD) Market by Deployment Model
9.2.5.5.2 Russia Computational Fluid Dynamics (CFD) Market by End User
9.2.5.6 Rest of Europe Computational Fluid Dynamics (CFD) Market
9.2.5.6.1 Rest of Europe Computational Fluid Dynamics (CFD) Market by Deployment Model
9.2.5.6.2 Rest of Europe Computational Fluid Dynamics (CFD) Market by End User
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Computational Fluid Dynamics (CFD) Market Overview
9.3.2 Asia-Pacific Computational Fluid Dynamics (CFD) Market Forecasts and Analysis
9.3.3 Asia-Pacific Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By Deployment Model
9.3.4 Asia-Pacific Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By End User
9.3.5 Asia-Pacific Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Computational Fluid Dynamics (CFD) Market
9.3.5.1.1 Australia Computational Fluid Dynamics (CFD) Market by Deployment Model
9.3.5.1.2 Australia Computational Fluid Dynamics (CFD) Market by End User
9.3.5.2 China Computational Fluid Dynamics (CFD) Market
9.3.5.2.1 China Computational Fluid Dynamics (CFD) Market by Deployment Model
9.3.5.2.2 China Computational Fluid Dynamics (CFD) Market by End User
9.3.5.3 India Computational Fluid Dynamics (CFD) Market
9.3.5.3.1 India Computational Fluid Dynamics (CFD) Market by Deployment Model
9.3.5.3.2 India Computational Fluid Dynamics (CFD) Market by End User
9.3.5.4 Japan Computational Fluid Dynamics (CFD) Market
9.3.5.4.1 Japan Computational Fluid Dynamics (CFD) Market by Deployment Model
9.3.5.4.2 Japan Computational Fluid Dynamics (CFD) Market by End User
9.3.5.5 South Korea Computational Fluid Dynamics (CFD) Market
9.3.5.5.1 South Korea Computational Fluid Dynamics (CFD) Market by Deployment Model
9.3.5.5.2 South Korea Computational Fluid Dynamics (CFD) Market by End User
9.3.5.6 Rest of Asia-Pacific Computational Fluid Dynamics (CFD) Market
9.3.5.6.1 Rest of Asia-Pacific Computational Fluid Dynamics (CFD) Market by Deployment Model
9.3.5.6.2 Rest of Asia-Pacific Computational Fluid Dynamics (CFD) Market by End User
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Computational Fluid Dynamics (CFD) Market Overview
9.4.2 Middle East and Africa Computational Fluid Dynamics (CFD) Market Forecasts and Analysis
9.4.3 Middle East and Africa Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By Deployment Model
9.4.4 Middle East and Africa Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By End User
9.4.5 Middle East and Africa Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Computational Fluid Dynamics (CFD) Market
9.4.5.1.1 South Africa Computational Fluid Dynamics (CFD) Market by Deployment Model
9.4.5.1.2 South Africa Computational Fluid Dynamics (CFD) Market by End User
9.4.5.2 Saudi Arabia Computational Fluid Dynamics (CFD) Market
9.4.5.2.1 Saudi Arabia Computational Fluid Dynamics (CFD) Market by Deployment Model
9.4.5.2.2 Saudi Arabia Computational Fluid Dynamics (CFD) Market by End User
9.4.5.3 U.A.E Computational Fluid Dynamics (CFD) Market
9.4.5.3.1 U.A.E Computational Fluid Dynamics (CFD) Market by Deployment Model
9.4.5.3.2 U.A.E Computational Fluid Dynamics (CFD) Market by End User
9.4.5.4 Rest of Middle East and Africa Computational Fluid Dynamics (CFD) Market
9.4.5.4.1 Rest of Middle East and Africa Computational Fluid Dynamics (CFD) Market by Deployment Model
9.4.5.4.2 Rest of Middle East and Africa Computational Fluid Dynamics (CFD) Market by End User
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Computational Fluid Dynamics (CFD) Market Overview
9.5.2 South and Central America Computational Fluid Dynamics (CFD) Market Forecasts and Analysis
9.5.3 South and Central America Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By Deployment Model
9.5.4 South and Central America Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By End User
9.5.5 South and Central America Computational Fluid Dynamics (CFD) Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Computational Fluid Dynamics (CFD) Market
9.5.5.1.1 Brazil Computational Fluid Dynamics (CFD) Market by Deployment Model
9.5.5.1.2 Brazil Computational Fluid Dynamics (CFD) Market by End User
9.5.5.2 Argentina Computational Fluid Dynamics (CFD) Market
9.5.5.2.1 Argentina Computational Fluid Dynamics (CFD) Market by Deployment Model
9.5.5.2.2 Argentina Computational Fluid Dynamics (CFD) Market by End User
9.5.5.3 Rest of South and Central America Computational Fluid Dynamics (CFD) Market
9.5.5.3.1 Rest of South and Central America Computational Fluid Dynamics (CFD) Market by Deployment Model
9.5.5.3.2 Rest of South and Central America Computational Fluid Dynamics (CFD) Market by End User
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. COMPUTATIONAL FLUID DYNAMICS (CFD) MARKET, KEY COMPANY PROFILES
11.1. ALTAIR ENGINEERING, INC.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ANSYS, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. AUTODESK INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. COMSOL
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. CONVERGENT SCIENCE
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. DASSAULT SYSTEMES
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ESI GROUP
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. HEXAGON
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. PTC
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SIEMENS AG
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Altair Engineering, Inc.
2. ANSYS, Inc.
3. Autodesk Inc.
4. COMSOL
5. Convergent Science
6. Dassault Systemes
7. ESI Group
8. Hexagon
9. PTC
10. Siemens AG
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For